Highlights
How do you create value for tomorrow, today?
The Radar survey looks at key trends and issues for businesses across strategy and growth, customer behaviour, funding, people, technology and risk.This inaugural edition reveals that around three-quarters of the businesses responding to the survey exceeded their revenue projections for the 2010-11 financial year and just over half reported higher profits than in the preceding financial year.
However, it is clear that the tough environment has taken a toll on sentiment. Businesses are generally very cautious about the outlook for the global and Australian economies, with many predicting either negative or flat growth in 2012.
Over the next three years, the outlook is much more buoyant, with not one business surveyed forecasting negative profit growth. It is a strong indication that while they may be uncertain in the current environment, Australian businesses believe the future is bright.
For many businesses, this means focusing on their customers and serving them in new and innovative ways. It also means focusing on refreshing skills and talent within organisations. For half of the businesses surveyed, establishing a risk management approach is another important factor for success.
There are opportunities out there for companies that are well-positioned and agile.
Separate to the survey we spoke to a number of PwC clients and these more in-depth case studies share some great stories about ways that businesses are positioning themselves for the future. To hear from these businesses view the videos or download the iPad App.
Strategy and growth
72.5% looking to grow profits in 2012.
Key competitive drivers are margin compression, talent availability and pricing, while impediments to growth include global and Australian economic conditions.
Key competitive drivers are margin compression, talent availability and pricing, while impediments to growth include global and Australian economic conditions.
Customer behaviour
68.3% report increased focus on cost from customers.
Customer behaviour is changing, as people become more cost sensitive yet demand faster delivery and better value for money.
Customer behaviour is changing, as people become more cost sensitive yet demand faster delivery and better value for money.
Funding
33.5% whole of market gearing.
Six out of ten businesses are unsure about committing to any major investments in the coming 12 months and half report difficulties in sourcing funding.
Six out of ten businesses are unsure about committing to any major investments in the coming 12 months and half report difficulties in sourcing funding.
People
65.8% unsure about hiring in the next six months.
Few companies have plans to actively hire in the next 12 months, with talent availability and economic conditions key constraints.
Few companies have plans to actively hire in the next 12 months, with talent availability and economic conditions key constraints.
Technology and projects
71% increasing focus on social media.
Customers are spending more time online, yet most businesses predict their IT spend will grow modestly or not at all over the next 12 months.
Customers are spending more time online, yet most businesses predict their IT spend will grow modestly or not at all over the next 12 months.
Risk and governance
55.4% have a risk management plan in place.
In spite of volatility in the global economy, and a host of perceived external risks, many companies do not have a formal risk management plan.
In spite of volatility in the global economy, and a host of perceived external risks, many companies do not have a formal risk management plan.
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